Binance Review 2021: Security, Fees & Special Features

The webs most detailed Binance Review: Find out what our expert has to say about this fast-growing cryptocurrency exchange that has become a household name in the industry. Learn what makes Binance special as a trading platform and why so many active traders choose this crypto exchange.

3.93/5
Trustworthy
Non-Regulated
Malta flag
Binance
Founded July 2017
Owner Changpeng Zhao
Type Cryptocurrency Exchange
Fees 0.10%
account minimum 15$
Best for All Traders

Why Binance

In this section of our Binance review we highlight 6 special features that deserves extra attention.

Multiply your profits significantly or access more capital with a smaller account. Be mindful of the risks.
Leverage Trading
Multiply your profits significantly or access more capital with a smaller account. Be mindful of the risks.
This platform is perfect for beginners with limited trading or investing experience online.
Beginner Friendly
This platform is perfect for beginners with limited trading or investing experience online.
Keep track of which market is winning and which one is losing today. A good way for day traders to find volatility.
Daily Gainers & Losers
Keep track of which market is winning and which one is losing today. A good way for day traders to find volatility.
Buy, sell, or trade other cryptocurrencies with a smaller market cap than Bitcoin. New coins are created frequently.
Altcoins
Buy, sell, or trade other cryptocurrencies with a smaller market cap than Bitcoin. New coins are created frequently.
Profit from a declining or negative market. Professional traders can make money in both directions.
Short Selling
Profit from a declining or negative market. Professional traders can make money in both directions.
Change position of the trade chart, order book, order selection, and remove things you don't use.
Customisable Interface
Change position of the trade chart, order book, order selection, and remove things you don't use.

About Binance

Binance is right now the biggest cryptocurrency exchange when it comes to trade volume and it all started back in 2017 just before the Bitcoin boom of late 2018. The exchange was started in China and later moved its headquarters to Malta due to stricter Chinese regulations on cryptocurrency exchanges. Today Malta has accepted Binance thanks to its softer regulatory system. As of now, Binance is still a fast grower and it’s expanding its operations every year.

Binance has an excellent reputation among cryptocurrency enthusiasts all over the world, and we definitely see the point. It’s a great exchange with a very intuitive and ultra-modern interface when it comes to both investing and trading cryptocurrencies. One thing that absolutely stands out with Binance is that it’s focusing on its customer’s needs. Every year, new features are added that suits different kinds of investors and traders with different goals.

Why use Binance

If you are a scalper, day trader, swing trader, or a long term investor you should give this exchange a try. Trade options, futures, margin tokens, or take part of different promotions and battles to compete for different prices. All of this makes for a lot of fun if you are a hobby trader as well as a more experienced trader because Binance is a host of very advanced trading tools and charting software.

It’s very easy to access the platform with fiat money, and you can make instant deposits with all of the major payment methods. Most of the major currencies are also accepted which is another major selling point for Binance. In simple terms, they have made it very easy to get started with crypto trading and they keep their customers by giving them what they want. Not many exchanges out there will be able to compete with Binance if they keep up the pace of pleasing almost everyone.

Trading on Binance

When we tried to scalp, day trade, and buy tokens on Binance we were surprised of how easy it was to get started. There are no complications what so ever and you have access to all the basic and advanced charting tools from the start. Binance also has a real stop loss and take profit system when you trade in the futures pit. This is something that most platforms miss out and they only give you the option to add a stop-limit order to stop yourself out. One-click trading is also an option if you use market orders.

The chart is very fast and responsive as well as the order execution. You can follow the order book live and your orders get routed very quickly and there is a minimal lag between the buy or sell click until you have entered the market.
It’s also very easy to change the leverage if you decide to trade with margin. There is a bar where you can easily adjust the leverage as you like. Another thing Binance has incorporated is the Tradingview charts which make for even more professionality.

Payment methods and limits

You can deposit money with credit cards, bank transfer, and many other payment options. If you choose the P2P platform you can choose between 195 other payment providers, such as, Apple Pay, WeChat, Yandex.Money, Interac e-transfer, Google Pay, Cash App, PayPal, MIR, and Line Pay. This makes Binance one of the most versatile cryptocurrency exchanges when it comes to fiat to crypto payments and it’s a huge plus for reaching a wide audience.

There is no minimum withdrawal limit on Binance and the maximum withdrawal limit is very high at 7,500,000.00 every week. The smallest deposit possible with fiat currencies is $15 or equivalent with other currencies.

Things we don’t like

The first negative thing we want to point out about Binance is that it’s an unregulated exchange, which is not uncommon in the industry. It is a safe platform to operate on but we would rate it higher if we saw a governmental regulation to prove its trustworthiness. It was a little bit difficult to get a hold of the contact email address for the customer support, which is understandable with the number of clients they serve.

The second thing we are dissapointed with is the long queue to get to the live chat. Binance will try to solve the problem with the chart “bot” and if you want to talk to an agent you need to wait for the bot to connect you to a representative. When we finally got through to the live chat we were positioned 59 in the queue. For such a developed platform we would like to see more focus on the customer support.

Trading Fees

Products
Maker fee
Taker fee
Cryptocurrency
0.10 %
0.10 %
Futures
0.02 %
0.04 %
Options
$Premium
$Premium
ETF
0.10 %
0.10 %
Derivatives
0.10 %
0.10 %

Products

Cryptocurrency
Cryptocurrency
Futures
Futures
Options
Options
ETF
ETF
Derivatives
Derivatives

Trading Platforms

Webtrader
Webtrader
Own trading platform Windows + Mac
Own trading platform Windows + Mac
Tradingview
Tradingview

Order Types

SL - Stop Loss
IOC - Immidiate or Cancel
GTX - Good till Crossing
OCO - One Cancel Other
TP - Take Profit
TSL - Trailing Stop Loss
MO - Market Order
LO - Limit Order
SM - Stop Market
SL - Stop Limit
GTC - Good till Cancelled

Devices

Desktop
Desktop
Smartphone
Smartphone
Web
Web
Tablet
Tablet

Special Features

Profit Calculator
Real Stop Loss
One Click Trading
Advanced Charting
Advanced Trading Tools
Cryptocurrency Wallet
Fiat Account
Technical Indicators
Margin Trading
Risk Management
2FA Verification
Mining
Lending
Promotions
Staking
Market Analysis
Fundamental Analysis
Performance Analytics
OTC Market
Video Guides
Instant Coin Exchange
KYC
Trading App
Education
High Limits
Market Screener
Quick Registration
Market News
Fast Execution Speed
Fast Withdrawals
Rebate
Advanced Trading Platform
New Trading Platform
Trading Forum
Buy Cryptocurrency

About the special features on Binance

Binance has a wide selection of special features that will attract and keep any trader on the platform, for good reasons. No matter if you are looking to scalp, day trade, or invest in cryptocurrencies, there are so many ways to do it on this platform. Binance has made sure to serve most of the crypto enthusiasts with staking, mining, lending, OTC market, and instant coin exchange. You can pretty much do anything on this exchange and I really understand why it’s risen in fame during the last years. They absolutely put the trader’s interests first, a huge plus!

Advanced trading tools

Regarding trading on Binance, you have all the options you need when it comes to charting, technical trading tools, leverage, market screener, daily winners, and losers, and there is also the option to act as a market maker with the rebate you get from trading with limit orders in the futures pit.
Binance offers several trading platforms for both beginners and advanced traders. If you are a big trader, don’t worry, Binance has very high limits on their trade platform. You can also use the Binance app to trade on the go which is a great tool if you want to have maximum uptime and never miss an opportunity in the market.

Risk management & analysis tools

Binance will also help you control your risk when trading the leveraged tokens by showing you the amount of risk you take on for each trade which helps you keep track of the downside. Market news is another interesting feature Binance has added that lets you read up on the latest news in the cryptocurrency community and you will find several articles on many of the popular altcoins available on the platform. This also helps you with some fundamental analysis if you want to get a bigger picture of the company behind the coins.
Overall, Binance is packed with extra features that any trader will enjoy, all the way from several fiat currencies to very advanced trading systems.

Binance has our fullest recommendations!

Funding

Bank transfer
Bank transfer
Visa
Visa
Neteller
Neteller
Skrill
Skrill
Banco Brubank
Banco Brubank
PayPal
PayPal
ABA Bank
ABA Bank
ABN AMRO
ABN AMRO
ADV Cash
ADV Cash
AirTM
AirTM
Alfa-Bank
Alfa-Bank
Alipay
Alipay
Banco Estado
Banco Estado
Bancolombia S.A
Bancolombia S.A
Banco General Panama
Banco General Panama
Barclays Bank
Barclays Bank
Barter
Barter
BBVA
BBVA
Bandes Uruguay
Bandes Uruguay
Banistmo Panama
Banistmo Panama
Bank of the Republic of Uruguay
Bank of the Republic of Uruguay
Banesco
Banesco
Ziraat
Ziraat
Zelle
Zelle
ZaloPay
ZaloPay
Yape
Yape
Yandex.Money
Yandex.Money
WorldRemit
WorldRemit
Wing
Wing
Western Discount Bank
Western Discount Bank
WeChat
WeChat
WavePay
WavePay
VTB Bank
VTB Bank
Vodafone
Vodafone
ViettelPay
ViettelPay
Venmo
Venmo
UPI
UPI
Uphold
Uphold
Upaisa
Upaisa
UniCredit
UniCredit
Uala
Uala
True Money
True Money
Mastercard
Mastercard
Transferwise
Transferwise
Touch n Go
Touch n Go
Tinkoff
Tinkoff
TD Bank
TD Bank
Tangerine Bank
Tangerine Bank
SWIFT
SWIFT
STP
STP
Sovkombank
Sovkombank
Societe Generale
Societe Generale
ShopeePay-SEA
ShopeePay-SEA
SEPA
SEPA
Scotiabank
Scotiabank
SBP
SBP
Sberbank
Sberbank
Santander
Santander
Russian Standard Bank
Russian Standard Bank
Rosselkhozbank
Rosselkhozbank
Rosbank
Rosbank
Rocketbank
Rocketbank
Revolut
Revolut
RBC Royal Bank
RBC Royal Bank
Raffeisenbank
Raffeisenbank
QIWI
QIWI
PUMB
PUMB
Privat Bank
Privat Bank
Prex
Prex
Post Bank
Post Bank
Plin
Plin
PicPay
PicPay
PhonePe
PhonePe
Perfect Money
Perfect Money
Paytm
Paytm
Paysend.com
Paysend.com
PayNow
PayNow
Paynet
Paynet
PayMe
PayMe
Paymaya
Paymaya
Paylah
Paylah
Payeer
Payeer
Payall
Payall
Papara
Papara
PagSeguro
PagSeguro
Pago Movil
Pago Movil
OXXO
OXXO
OVO
OVO
OTP
OTP
Otkritie
Otkritie
Oschadbank
Oschadbank
Nequi
Nequi
MTS-Bank
MTS-Bank
M-PESA
M-PESA
Movii
Movii
Monobank
Monobank
MONETA Money Bank
MONETA Money Bank
MoMo
MoMo
Mobile top-up
Mobile top-up
Mobikwik
Mobikwik
Mir
Mir
Millenium
Millenium
Mi Dinero
Mi Dinero
Mercantil
Mercantil
Mercadopago
Mercadopago
mBank
mBank
Lloyds Bank
Lloyds Bank
Livecoin
Livecoin
LinkAja
LinkAja
LINE Pay
LINE Pay
LCL
LCL
La Banque postale
La Banque postale
Kuveyt Turk
Kuveyt Turk
KBZPay
KBZPay
Kaspi Bank
Kaspi Bank
JKOPAY
JKOPAY
Jazzcash
Jazzcash
Itaú
Itaú
Intesa Sanpaolo
Intesa Sanpaolo
Interac e-Transfer
Interac e-Transfer
ING
ING
IMPS
IMPS
Home Credit Kazakhstan
Home Credit Kazakhstan
Halyk Bank
Halyk Bank
Grab Pay
Grab Pay
Google Pay (GPay)
Google Pay (GPay)
GoPay
GoPay
GoMoney
GoMoney
GEO Pay
GEO Pay
Gcash
Gcash
Gazprombank
Gazprombank
Garanti
Garanti
Faster Payment System (FPS)
Faster Payment System (FPS)
ForteBank
ForteBank
FNB-ewallet
FNB-ewallet
Flutterwave
Flutterwave
Fio banka
Fio banka
Eversend
Eversend
EQ Bank
EQ Bank
Efecty
Efecty
EasyPay
EasyPay
Easypaisa-PK Only
Easypaisa-PK Only
DCBank
DCBank
Davivienda S.A
Davivienda S.A
Daviplata
Daviplata
DANA
DANA
ČSOB
ČSOB
Credit Bank of Moscow
Credit Bank of Moscow
Credit Agricole
Credit Agricole
Coinpay
Coinpay
Citibank
Citibank
CIBC
CIBC
Chipper Cash
Chipper Cash
Česká spořitelna
Česká spořitelna
CenterCredit Bank
CenterCredit Bank
Cash app
Cash app
Caisse d'Epargne
Caisse d'Epargne
Bundle
Bundle
BNP Paribas
BNP Paribas
BMO
BMO
Blik
Blik
Apple Pay
Apple Pay

Accepted Currencies

EUR (€)
USD ($)
RUB (₽)
VND (₫)
TRY (₺)
MYR (RM)
THB (THB)
INR (₹)
PEN (S/)
MXN ($)
CHF (CHF)
COP ($)
SEK (kr)
HUF (Ft)
NOK (kr)
JPY (¥)
NGN (₦)
AED (د.إ.‏)
CAD ($)
AUD ($)
UAH (₴)
PHP (₱)
RON (RON)
IDR (Rp)
KRW (₩)
ILS (₪)
PLN (zł)
BGN (лв.)
HKD (HK$)
GBP (£)
UGX (USh)
CZK (Kč)
ZAR (R)
DKK (kr.)
NZD ($)
KZT (₸)
TWD ($)
SGD ($)
HRK (HRK)
BRL (R$)
KES (Ksh)
ARS ($)
CNY (¥)
GEL (₾)
UYU ($)
CLP ($)
GHS (GH₵)
LBP (ل.ل.‏)
SAR (ر.س.‏)
MAD (د.م.‏)
EGP (ج.م.‏)
AZN (₼)
BOB (Bs)
LKR (රු.)
PAB (B/.)
PKR (Rs)
PYG (Gs.)
ISK (ISK)

Limits

Max Withdrawal Limits
$7500000 weekly
Min Withdrawal Limits
$0
Min Deposit Limits
$15

Languages

United Kingdom
English
Spain
Spanish
Germany
German
Italy
Italian
Sweden
Swedish
Russian Federation
Russian
Turkey
Turkish
Portugal
Portuguese
Romania
Romanian
France
French
Poland
Polish
Vietnam
Vietnamese
Czech Republic
Czech

Restricted Countries

United States
United States Minor Outlying Islands

Security

Is Binance safe to use?

Overall, Binance is a very safe place to deposit money and trade cryptocurrencies. They have a very good reputation and hacks are very seldom reported. Considering that it’s a crypto trading platform they have done everything possible to keep customer funds safe. You have the option to add a Seurity Key, Google Authentication (2fa verification), SMS Authentication, E-mail Address withdrawal, KYC, Address Management, and Anti-phising Code. We recommend that you add all of these features in order to guard yourself against potential threats. With this in mind we consider Binance a relatively safe place to trade and buy bitcoin and other altcoins.

Is Binance regulated?

Binance is not directly regulated by any governmental body. However, it is based in a country (Malta) with regulations that surround the cryptocurrency industry.

Support

Live Chat
Live Chat
Contact Form
Contact Form

Frequently asked questions

Read the most frequently asked questions about Binance. Find answers without searching the web.

No, it's not, Binance cryptocurrency exchange is a completely legal platform for both trading and investing in cryptocurrencies. It's very reputable and a trusted place to exchange your coins or trade futures and options.

To withdraw your cryptocurrencies from Binance all you need to do is to go to your wallet page and click withdraw. Then fill in the address you want to transfer your coins to. To withdraw fiat currencies you first need to choose a currency in your fiat wallet and then click withdraw. Depending on which fiat currency you want to withdraw there are different payment options. Choose the one you prefer and click Continue.

Yes, it is. Binance is a very safe exchange to use for both investing and trading cryptocurrencies. However, we do not recommend that you keep large quantities of cryptocurrencies on the exchange.

To start trading on Binance you first need to deposit a fiat currency or cryptocurrencies. Then go ahead to click trade in the top left corner of the interface and choose between the classic or advanced trade interface. There are also other trading features such as options, futures, and leverage trading.